Much better that I had anticipated. Error on Page 21 Item #24 Subsequent Events, item 1): Should read $40,000,000.00 instead of $4,000,000.00.
Nice cash flow allowing for exploration to continue at the rate of $9,000,000.00/yr.
A&P+Exp.Explor.+Donations, covers $(0.05)EPS.
Nearly $1,000,000.00 increase in stockpiled ore for use in expansion to 5,500 T/D.
Less gold poured&sold at lower sales price means higher return forward/oz.
Large trenching & assaying costs shows more gold is being uncovered. Expect 43-1-101 withing six months.
Source and Use of funds shows efficient effective management of operations and good sound decision making in most areas. Mark-to-Market loss of $3,196,304 on notes will go away with re-finance.
Working Capital deficiencies improved $60,000,000.00 in quarter!
With an increase in production as company ramps up, and the price of gold, company is hugely more viable looking forward!
Very happy camper...will buy an extra chunk if weak hands who do not understand the reports choose to sell on the news!!!
Very satisfied with report as was also Deutsche Band.
